Former D1 Swimming Commit Gavin Mayo Indicted in Massive NFT Fraud Scheme [Video]

Former UNC swimming commit Gavin Mayo has been indicted on charges that he and another man, Gabriel Hay, defrauded investors of more than $22 million in cryptocurrency in what is referred to as a “rugpull” scheme.

According to the U.S. Justice Department, a rugpull is a “type of fraud scheme in which the creator of a nonfungible token (NFT) or other digital asset project solicits funds from investors for the project and then abruptly abandons the project and fraudulently retains investors’ funds.”

Mayo and Hay, both 23, have been accused of lying to investors and defrauding them of tens of millions of dollars. They are also charged with threatening a project manager who attempted to expose the fraud.

The video below breaks down Mayo and his alleged role in the scheme:

Mayo is originally from Greensburg, Pennsylvania, about 45 minutes outside of Pittsburgh. A sprinter, he placed 9th at the 2019 Pennsylvania AAA Boys’ State Championship meet …